* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh
(Updates to U.S. stock market close)
By Rodrigo Campos
NEW YORK, Sept 21 (Reuters) - Stocks across the world hit
their lowest in seven weeks and other risk assets also sold off
on Monday on concerns over renewed lockdown measures in Europe
and Britain, as well as the United States' inability to agree on
fiscal stimulus that would support millions of unemployed.
Oil prices fell more than 3%, the dollar rose against a
basket of peers and an index of emerging market currencies fell
by the most in six months. The MSCI world equity index
.MIWD00000PUS , which tracks shares in 49 countries, ended at
its lowest since Aug. 3.
Britain is considering a second national lockdown as new
cases rise by at least 6,000 per day while Denmark, Greece and
Spain have introduced new restrictions on activity. Germany's
health minister said rising new infections in countries like
France, Austria and the Netherlands are worrying. Adding to the market's nervousness, the U.S. presidential
campaign was upended late Friday after U.S. Supreme Court
Justice and liberal icon Ruth Bader Ginsburg died. President
Donald Trump said he would announce his candidate to replace
her, which requires Senate confirmation, by the end of this
week. Ginsburg's death also decreases the chances of Congress
passing another stimulus package to help lift the domestic
economy. "It just kind of crowds out the agenda, the idea that we are
going to get a fiscal stimulus package before the election,"
said Ed Campbell, portfolio manager and managing director at QMA
in Newark, New Jersey.
"There is also just general election-related jitters... and
possibly that we have a contested or delayed outcome."
The U.S. presidential election will be held on Nov. 3.
The Dow Jones Industrial Average .DJI fell 509.72 points,
or 1.84%, to 27,147.7, the S&P 500 .SPX lost 38.41 points, or
1.16%, to 3,281.06 and the Nasdaq Composite .IXIC dropped
14.48 points, or 0.13%, to 10,778.80.
The pan-European STOXX 600 index .STOXX lost 3.24% and
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
1.63%.
Emerging market stocks lost 1.64%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 1.26%
lower.
Japan has public holidays on Monday and Tuesday this week,
meaning volumes are expected to be thin in Asian trading.
Markets were also hit by a media report on how several
global banks moved large sums of allegedly illicit funds over
nearly two decades. The S&P banking subindex .SPXBK fell 3.4%.
'CONCERNS RISING'
The dollar rose on Monday after two weeks of declines as
investors sought safer currencies.
"An unrelenting rise in coronavirus cases globally is
weighing on sentiment at the start of the trading week as
investors increasingly question their rosy predictions about the
recovery," said Raffi Boyadjian, senior investment analyst at
online broker XM.
The dollar index =USD rose 0.609%, with the euro EUR=
down 0.57% to $1.177.
The Japanese yen weakened 0.09% versus the greenback at
104.68 per dollar, while Sterling GBP= was last trading at
$1.2816, down 0.77% on the day.
Seven members of the Fed will speak this week, including
Chairman Jerome Powell appearing before congressional
committees, and investors will be looking for hints to determine
the dollar's direction.
Crude oil followed equity markets lower.
"We're looking for a much softer market," said Gary
Cunningham, director of market research at Tradition Energy in
Stamford, Connecticut. "The economic picture doesn't look as
rosy as it did before." U.S. crude CLc1 fell 3.53% to $39.66 per barrel and Brent
LCOc1 was at $41.75, down 3.24% on the day.
Benchmark 10-year notes US10YT=RR last rose 8/32 in price
to yield 0.6691%, from 0.694% late on Friday.
Spot gold XAU= dropped 1.9% to $1,912.19 an ounce.
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Emerging markets http://tmsnrt.rs/2ihRugV
World stocks vs COVID-19 confirmed cases https://tmsnrt.rs/2FMNfYC
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